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In December 2014, a new stamp duty system was introduced by the Government. The aim was for the majority of those purchasing a home to save money.According to latest figures by My Home Move*, buyers have saved money under the new system. Over the last year, home buyers have collectively saved £1.9 billion in stamp duty costs with the average buyer saving £1,500.(more…)

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Latest research from the National Association of Estate Agents has found that house purchases by First Time Buyers are at their highest levels since August 2009. This was published on the What Mortgage website.The figures show that 31% of house purchases were by First Time Buyers which is the highest level or six years and an increase of 11% in the last two months.(more…)

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Latest research from the Halifax has found that many First Time Buyers are still concerned about getting onto the property ladder. This was highlighted in the Financial Reporter in December.The research has found that nearly a third are prevented from buying a home because they don’t think they will be able to get a mortgage. 42% worry about the amount of time it will take them to save to buy their first property and 40% think they will never be able to afford to buy their own home.(more…)

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Landlords and those buying second homes will soon have to pay more in stamp duty, the chancellor has announced in the Autumn Statement. This was reported in the Financial Reporter on 25th November following the Chancellor’s Statement*.The changes will be introduced in April 2016 and will mean all Buy to Let investors and those buying a second home will have to pay an extra 3% on each stamp duty band. The aim is for this money to raise an extra £1bn for the Treasury over the next six years.(more…)

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